Tag: Regulation

New Spanish Regulations to Target Crypto Investment Ads – Regulation Bitcoin News

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As part of regulations that are set to become effective in mid-February, crypto-asset investment promoters will be required to inform the Spanish securities watchdog of the contents of any ad that targets over 100,000 people. 10-Day Advance Notice Rule The Spanish government has tasked the country’s securities watchdog with authorizing advertisements that promote cryptocurrencies, a report has said. Also, as part of the new measures, crypto-asset investment promoters will be required to notify the Comisión Nacional del Mercado de Valores (CNMV) of any promotional campaign that targets more than 100,000…

Australian Regulator Warns Against Investing Retirement Funds in ‘High Risk’ Crypto-Assets – Regulation Bitcoin News

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An Australian regulator has warned residents seeking to self-manage their retirement funds to be wary of investing in crypto-asset investments that promise high returns in a short space of time. The regulator reiterates in the warning that crypto-assets are a high-risk and speculative investment. Scammer Tactics The Australian financial services regulator, the Australian Securities and Investments Commission (ASIC), has warned residents that self-manage their superannuation funds to be wary of scammers that are using the lure of quick and high returns offered by crypto assets to defraud unsuspecting victims. The…

Pakistani Bank Asks Customers to Avoid Conducting Crypto Transactions – Regulation Bitcoin News

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A major bank in Pakistan has reportedly asked its customers to avoid conducting cryptocurrency transactions. Bank Alfalah’s action came shortly after the State Bank of Pakistan, the country’s central bank, submitted a report to the Sindh High Court recommending a complete ban on cryptocurrency. Bank Alfalah Asks Customers to Avoid Conducting Crypto Transactions Pakistani Bank Alfalah has reportedly started sending SMS alerts to its customers, asking them to avoid carrying out cryptocurrency transactions using its banking channels. Incorporated in 1992, Bank Alfalah is one of the largest private banks in…

India’s Prime Minister Modi Calls for Global Collaboration on Crypto — Says ‘We Have to Have a Similar Mindset’ – Regulation Bitcoin News

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India’s prime minister, Narendra Modi, has called on governments worldwide to collaborate on cryptocurrency. He pointed out that “The kind of technology that is associated with it, the decisions taken by a single country will be insufficient to deal with its challenges.” Indian Prime Minister Urges ‘Every Country, Every Global Agency’ to Collaborate on Cryptocurrency Indian Prime Minister Narendra Modi talked about cryptocurrency at the World Economic Forum’s virtual Davos Agenda conference Monday. “The challenges we have been facing are also increasing. To counter these, there is a need for…

Singapore Restricts Crypto Ads — Central Bank Says Crypto Trading Not Suitable for the General Public – Regulation Bitcoin News

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Singapore’s central bank has issued guidelines to discourage cryptocurrency trading by the general public. The central bank emphasized that “the trading of cryptocurrencies is highly risky and not suitable for the general public.” Singapore’s Central Bank Discouraging Crypto Trading by the General Public The Monetary Authority of Singapore (MAS), the nation’s central bank, announced Monday that it has issued guidelines “to discourage cryptocurrency trading by [the] general public.” The guidelines restrict cryptocurrency trading service providers from promoting their digital payment token (DPT) services to the general public. DPT is commonly…

‘It’s Important That We Get a Bit More Clarity From Regulators’ – Regulation Bitcoin News

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Robinhood’s chief financial officer has revealed the popular trading platform’s crypto priority and the potential of listing more cryptocurrencies. “We’re a highly regulated company in a highly regulated industry, and we think it’s important that we get a bit more clarity from regulators,” he emphasized. Robinhood Waiting for Regulatory Clarity The chief financial officer (CFO) of Robinhood, Jason Warnick, talked about cryptocurrency during The Wall Street Journal’s virtual CFO Network Summit last week. Commenting on retail investors’ high demand for Robinhood to list more cryptocurrencies, particularly the meme crypto shiba…

A Former US Senator and Ambassador to China on the Need for Stablecoin Regulation

This episode is sponsored by Nexo, Abra and FTX US. Download this episode This week’s “Long Reads Sunday” reading is Max Baucus’ “The Urgent Need for Regulatory Clarity on Stablecoins.” See also: Strike App Won’t Support Bitcoin in Argentina “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our…

Lawyer Points to Agreement Relating to Johann Steynberg’s Extradition to South Africa – Regulation Bitcoin News

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With Johann Steynberg now in custody in Brazil, a lawyer has suggested that South Africa may have to resort to an existing legal assistance agreement with Brazil if it wishes to have the CEO extradited. However, the success of any such extradition will depend on the next steps taken by authorities in Brazil. Steynberg Extradition Options Following the capture of Johann Steynberg, the CEO of Mirror Trading International (MTI) by Brazilian law enforcement, lawyer Darren Hanekom has confirmed that South Africa does have in place a legal assistance agreement with…

Head of Investigative Committee Calls for Mandatory Identification of Cryptocurrency Users in Russia – Regulation Bitcoin News

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Russians who use cryptocurrency should not be anonymous, the man who chairs Russia’s federal investigating authority has recently stated. The official leading efforts to fight corruption in the government called for additional regulations, including the introduction of mandatory identification for those who transact with digital coins. Anti-Corruption Official Pushes for Rules to Mitigate Risks of Using Cryptocurrency for Illicit Purposes Alexander Bastrykin, head of the Investigative Committee of the Russian Federation, believes that people who use cryptocurrencies should not remain anonymous. The high-ranking official shared his opinion in an interview…

Crypto Could Soon Pose Risks to Countries’ Financial Stability – Regulation Bitcoin News

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Economists at the International Monetary Fund (IMF) say that “crypto assets are no longer on the fringe of the financial system.” In addition, they “could soon pose risks to financial stability especially in countries with widespread crypto adoption.” ‘Our Analysis Suggests Crypto Assets Are No Longer on the Fringe of the Financial System’ The International Monetary Fund (IMF) published a blog post on Tuesday warning about the risks crypto assets pose to financial stability. The post is authored by three economists from the IMF’s Monetary and Capital Markets Department: Tobias…